An increase of 25% for electricity and 25-30% for gas against September 2021 would lead to values to +50 – 60% against last year, states Claudiu Cazacu, consulting strategist with XTB, brokerage house listed with Warsaw Stock Exchange. In Europe, the quotations of the gas and electricity have registered record values, day in day out. Similarly, such an acceleration of the prices is unprecedented in history. The environment does not look at all like the previous one, and things change in a rapid rhythm. Every day the balance of the market may change, he says. ‘What is in store for the consumers of Romania? As there is no capping of prices, very painful growth of the cost of utilities, not good news in the conditions where inflation, announced as 6.29% surpasses the official estimates at the beginning of the year and could continue. Spain and other states together with Romania require a joint approach at European level as regards the purchase of natural gas and a mechanism of compensation – in the present situation capping interventions would be accepted by the European authorities only through waiver. Subscriptions and compensations already accepted (0.21 lei/kWh for energy and 25% of a key price of125 lei/MWh for natural gas) have an estimated impact of 1.3 billion lei, and can cover only partly the increase of the bills for this winter, if the basic prices for electricity and gas do not come back close to the levels of last year’ he adds. A medium scenario which takes into consideration a moderate slowdown following the surpassing of the present disparities, balancing of the offer/request ( a severe way of doing it would be through the reduction of consumption, of industrial activity or rationing) and increased offer from the producing states would induce bills higher by two figures during the winter months. The inflation data show, in September, growth of 24.65% for electricity and 20.55% for gas.
Artiss Gallery is set to open a new exhibition, Temporal Harmonies: From Classical to Contemporary in Visual Art, at the Noblesse Palace in Bucharest on March 26. The event will feature a diverse selection of works from iconic classical painters like Theodor Aman to internationally recognized contemporary artists such as Adrian Ghenie. The exhibition highlights […]
Romania is assisting North Macedonia after the deadly nightclub fire on Sunday, March 16, by transporting four patients to hospitals abroad. The fire that broke out at a club in Kočani claimed the lives of at least 59 people and injured 155 others. The four young people in critical condition are being flown to Lithuania […]
Romania’s Constitutional Court (CCR) cleared the main candidacies for president of Romania, including that of far-right politician and leader of the Alliance for the Union of Romanians (AUR) George Simion. Former Social Democratic Party (PSD) prime minister Victor Ponta, now an independent, Bucharest mayor Nicusor Dan, also an independent, and the ruling coalition candidate Crin […]
The White Symphony Orchestra, Romania's only all-female orchestra, will perform at Sala Palatului in Bucharest on April 29 to mark the 200th anniversary of Johann Strauss II's birth. Under the baton of the talented conductor Donna Bianca and concertmaster Monica Calofir, the orchestra will enchant the audience with some of the most beloved waltzes, polkas, […]
Romania’s tax agency ANAF announced on Monday, March 17, that it uncovered tax evasion exceeding RON 2.41 million in the ride-sharing sector following an anti-fraud inspection at a company based in Ilfov county. The firm, which operates transport services through Uber and Bolt, generated revenues of RON 5.23 million between January 2023 and June...
Tensions are reportedly rising between the two founders of Romanian far-right party AUR (the second-largest in parliament and reportedly the largest one in the recent polls), George Simion and Claudiu Tarziu – who claims that his authoritarian colleague is pressing him to resign. MEP Tarziu currently serves as the head of the AUR leading body […]
